By Yifan Wang

Tencent Holdings Ltd. (0700.HK) has made a cash offer for Netherlands-based Funcom SE (FUNCOM.OS) in a deal that values the computer games maker at 1.33 billion Norwegian kroner (US$147.9 million), the two companies said Wednesday.

The Chinese internet giant has offered to buy all the Funcom shares it doesn't already own for NOK17.00 each, representing a 27% premium to Funcom's last closing price at NOK13.35.

Tencent is one of Norway-listed Funcom's largest shareholders. It currently has a 29% stake in the company, FactSet data shows.

Funcom shares rose 26% to NOK16.83 following news of the deal.

Write to Yifan Wang at yifan.wang@wsj.com

(END) Dow Jones Newswires

January 22, 2020 04:00 ET (09:00 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
Tencent (PK) (USOTC:TCEHY)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Tencent (PK) Charts.
Tencent (PK) (USOTC:TCEHY)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Tencent (PK) Charts.